Question

Journal entry worksheet 4 BSC paid $46,000 for computer equipment with check number 101 and signed a note for $6,000 due in s
46,000 Equipment 3 40,000 Cash 6,000 Notes Payable (short-term)
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Answer #1

Answer

--Correct journal entry

Transaction Accounts title Debit Credit
3 Equipment ($46000 + 6000) $52,000
   Cash $46,000
   Notes Payable (short term) $6,000
(to record purchase of equipment)
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